Undergraduate Student Loans

Undergraduate Student Loans

Loans are financial aid awards which require repayment, with interest, under varying terms and conditions. The loans must be repaid after you graduate, withdraw from college, or drop below half-time status (fewer than six units per quarter). Please note, the loan amount you request and all other awards received, cannot exceed the Cost of Attendance.

Admitted and continuing students must log in to MyAwards to view their aid package and requirements. The package may include federal loan offers from funds mentioned below.

Federal Loans

Federal student loans are available to most students regardless of income and provide a range of repayment options including income-based repayment plans and loan forgiveness benefits, which other education loans are not required to provide. To be considered for a federal student loan, applicants must meet the following criteria:

  • They must file a Free Application for Federal Student Aid (FAFSA)
  • They must be enrolled in a degree-seeking program.
  • They must be enrolled in six or more units per quarter.
  • They must be a U.S. citizen or eligible non-citizen.
  • They must meet satisfactory academic progress for maintaining financial aid.
  • They must not be in default on a prior federal student loan or exceed annual and lifetime borrowing limits.
  • Accept academic year loan offers by May 15 deadline. All requirements must be completed by June 1.

Loan Servicer: Visit National Student Loan Data System (NSLDS) for loan servicer information on all Federal loans.

Please see general eligibility requirements for federal student aid for more details.

University Loans

UC Davis offers university based loans which have interest rates at 5% which accrue once the borrower ceases to be enrolled at least half-time. These loans are made on the basis of financial need. Review the promissory note and disclosures statements for additional information about deferment periods and repayment schedules.

Minimum award: $200

Maximum award: $4,000

Loan ServicerHeartland ECSI --There will be a temporary service outage between August 1, 2017 until August 14, 2017 for new and existing borrowers. If you have accepted a University or Perkins Loan, you will not be able to complete requirements for the loans during this outage. 

Important Dates

Loan acceptance, increases and requirements must be completed by the published deadlines.

Last Registered Term of Attendance Deadline
Fall Quarter 2017 November 17
Winter Quarter 2018 February 23
Spring Quarter 2018 May 15
Summer 2018 Session 1 TBD
Summer 2018 Sessions 1 and 2 TBD
Summer 2018 Session 2 TBD

Loan Types

Federal Loans Highlights
Federal Direct Subsidized Loan
  • Available to students with financial need
  • The U.S. Department of Education pays the interest on a Direct Subsidized loan
  • Interest rate and loan fees for the year are determined annually on July 1
  • Available to undergraduate students with financial need
  • Payments do not begin until after the 6 month grace period
  • Loan servicer will be assigned by the U.S. Department of Education
  • Does not require a credit check
  • Processing fee deducted from each disbursement
Federal Direct Unsubsidized Loan
  • Available to students regardless of financial need
  • The borrower is responsible for paying interest while enrolled in school
  • Interest rate and loan fees for the year are determined annually on July 1
  • Payments do not begin until after the 6 month grace period
  • Loan servicer will be assigned by the U.S. Department of Education
  • Does not require a credit check
  • Processing fee deducted from each disbursement
Federal Perkins Loan
  • Loan does not accrue interest for students enrolled half-time or more
  • 5% annual interest rate
  • 9 month grace period
  • Does not require a credit check
  • No processing fees
  • Limited availability
  • Absent Congressional action, the Federal Perkins loan program will end on September 30, 2017. 2017-2018 Federal Perkins Loan funds will be subject to cancellation.
  • Subsequent Disbursements for Undergraduate students; An undergraduate student, who receives a disbursement of a Perkins Loan before October 1, 2017 for the 2017- 2018 award year, may receive any remaining disbursements of that 2017-2018 award year loan.
Parent PLUS Loans
(for parents of dependent undergraduates)

2017-2018 PLUS Applications will be Available July 1, 2017

  • Only available to the parent(s) of a dependent undergraduate student enrolled at least half-time
  • Parent(s) may borrow up to the cost of attendance minus financial aid and outside resources
  • Begins accruing interest at the time of disbursement
  • Interest rate and loan fees for the year are determined annually on July 1
  • Credit check required
  • Parents can complete application and a promissory note at studentloans.gov
  • First payment is due within 60 days of final annual disbursement
  • Processing fee deducted from each disbursement
Institutional Loans Highlights
University Student Loan
  • Awarded to qualifying students that demonstrate financial need and file an educational expense appeal. 
  • Funds are awarded to assist with additional living expenses, child care, and first time computer purchase.
  • Limited funding may also be available for summer
  • Interest rate: 5%
  • Processing fee: N/A
  • Deferment period: 6 months
  • Does not require a credit check